EURUSD 1H :Breaching 1.0720 will open the way to drop
Updated
EURUSD
OUTLOOK
Global financial markets are eagerly awaiting the European Central Bank meeting on Thursday, amid important economic developments in the euro zone, especially the stabilization of the pace of inflation during August at the lowest level in a year and a half.
Technical abstract:
The EUR/USD pair is showing some bearish bias now, waiting for further decline to achieve our main expected target at 1.0690,
Breaking the 1.0720 level will enhance expectations of a continuation of the downward trend during the coming sessions, while stability below 1.0720 represents a basic condition for achieving the proposed goals.
Hence, the downward trend scenario will remain likely in the immediate and short term unless the 1.0760 level is breached and holds above it.
Additionally , today news will affect the market
The expected trading range for today is between support 1.0720 and resistance 1.0760 until breaching one of them
support line : 1.0720 , 1.0690
resistance line : 1.0760 , 1.0807
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OUTLOOK
Global financial markets are eagerly awaiting the European Central Bank meeting on Thursday, amid important economic developments in the euro zone, especially the stabilization of the pace of inflation during August at the lowest level in a year and a half.
Technical abstract:
The EUR/USD pair is showing some bearish bias now, waiting for further decline to achieve our main expected target at 1.0690,
Breaking the 1.0720 level will enhance expectations of a continuation of the downward trend during the coming sessions, while stability below 1.0720 represents a basic condition for achieving the proposed goals.
Hence, the downward trend scenario will remain likely in the immediate and short term unless the 1.0760 level is breached and holds above it.
Additionally , today news will affect the market
The expected trading range for today is between support 1.0720 and resistance 1.0760 until breaching one of them
support line : 1.0720 , 1.0690
resistance line : 1.0760 , 1.0807
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed: target reached
As we said the breaching 1.0720 will support the price to reach 1.0690 and already reached
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